AxoGen, Inc. $AXGN Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,060,599 shares of the medical equipment provider’s stock after purchasing an additional 33,686 shares during the period. Geode Capital Management LLC owned 2.31% of AxoGen worth $11,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AXGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after buying an additional 1,057 shares in the last quarter. Primoris Wealth Advisors LLC increased its position in shares of AxoGen by 9.0% during the second quarter. Primoris Wealth Advisors LLC now owns 15,700 shares of the medical equipment provider’s stock worth $170,000 after purchasing an additional 1,300 shares in the last quarter. Hsbc Holdings PLC raised its stake in AxoGen by 6.5% in the 1st quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock valued at $432,000 after purchasing an additional 1,468 shares during the last quarter. Rhumbline Advisers raised its stake in AxoGen by 3.5% in the 1st quarter. Rhumbline Advisers now owns 60,264 shares of the medical equipment provider’s stock valued at $1,115,000 after purchasing an additional 2,032 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in AxoGen by 120.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,077 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 4,409 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AXGN shares. Raymond James Financial upped their target price on shares of AxoGen from $20.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Mizuho began coverage on shares of AxoGen in a report on Monday. They issued an “outperform” rating and a $40.00 price objective for the company. Canaccord Genuity Group boosted their target price on AxoGen from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Citigroup restated a “market outperform” rating on shares of AxoGen in a research report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AxoGen currently has an average rating of “Moderate Buy” and an average target price of $30.25.

Insider Buying and Selling

In related news, Director William P. Mr. Burke sold 3,591 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $24.02, for a total transaction of $86,255.82. Following the completion of the sale, the director directly owned 100 shares of the company’s stock, valued at approximately $2,402. This trade represents a 97.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 133,600 shares of company stock valued at $2,839,945 in the last quarter. 2.78% of the stock is owned by insiders.

AxoGen Price Performance

Shares of AXGN stock opened at $27.69 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The company has a market capitalization of $1.28 billion, a PE ratio of -553.80 and a beta of 1.06. The firm’s 50-day moving average is $21.18 and its two-hundred day moving average is $15.88. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $29.32.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The business had revenue of $60.08 million during the quarter, compared to the consensus estimate of $56.90 million. Analysts predict that AxoGen, Inc. will post -0.29 earnings per share for the current year.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.